EDITORS: Please do not use
"Pacific Gas and Electric" or "PG&E" when
referring to PG&E Corporation or its National Energy Group.
The PG&E National Energy Group is not the same company as Pacific
Gas and Electric Company, the utility, and is not regulated by the
California Public Utilities Commission. Customers of Pacific Gas
and Electric Company do not have to buy products or services from
the National Energy Group in order to continue to receive quality
regulated services from Pacific Gas and Electric Company.

Bethesda, Md.-- PG&E Corporation抯
(NYSE: PCG) National Energy Group today announced the execution
of contracts to secure 50 turbines representing a development portfolio
of approximately 16,000 megawatts of electric power. The contracts
include four 7FA and nineteen 7FB turbines from GE Power Systems,
as well as twenty-one Mitsubishi MHI 501G turbines and six Siemens
Westinghouse SW 501G turbines.

The turbines will be deployed
nationally to support the company抯 greenfield development projects.
Most of the turbines will be funded through a creative off-balance
sheet financing arranged by Soci閠?G閚閞ale. The financing provides
for the turbine purchases and related project costs without any
near-term cash outlays from PG&E Corporation.

PG&E Corporation with 1999
revenues of nearly $21 billion and operations in 21 states, markets
energy services and products throughout North America through its
National Energy Group. The Corporation has ownership and management
interests in 30 operating electric power generating plants in 10
states, providing it with a generation portfolio of more than 7,000
megawatts and more than 10,000 megawatts in new power plant development
and construction currently underway. It also has one of the largest
energy trading and risk management programs in North America.